[no abstract available]

This paper traces the rise of virtual currencies and surveys their more popular incarnations, such Liberty Reserve and Bitcoin. Using cash and conventional electronic payment networks (e.g. Visa and PayPal) as a reference point, we delineate the evolution of financial abuses in the face of virtual currencies. In particular, we describe the properties of virtual currencies that make them suscept...

This paper proposes a new feature extraction technique for paper currency recognition. In this technique, the texture characteristic is used in the recognition. The Markov chain concept has been employed to model the texture of paper currencies as a random process. The method proposed in this paper can be used for recognizing paper currencies from different countries. In this method only intact...

Crypto Currencies have recently gained enormous popularity amongst the general public. With each passing day, more and more companies are radically accepting crypto currencies in their payment systems, paving way for an economic revolution. Currently more than 700 crypto-currencies are available at Coindesk alone for trade purposes. As of November 2016, the Crypto currencies hold a total market...

Paper currencies could be one of the most potential vehicles to transmit diseases amongst the people. The daily transactions have made the paper currency to pass through many hands and pathogens become imposed on them before they are finally deposited in banks. Modern scientific studies have confirmed the presence of various pathogenic bacteria on paper currencies. Amongst others, Staphylococcu...

Paper currencies could be one of the most potential vehicles to transmit diseases amongst the people. The daily transactions have made the paper currency to pass through many hands and pathogens become imposed on them before they are finally deposited in banks. Modern scientific studies have confirmed the presence of various pathogenic bacteria on paper currencies. Amongst others, Staphylococcu...

Temzelides and Williamson present a model of private currency issuance to study the effect of clearing arrangements on the prices at which private currencies trade, on the volume of exchange, and on welfare. Their findings hinge on three factors: the location of the issuers relative to the area in which their currencies circulate, whether there is an arrangement for clearing nonlocally issued c...

There has been little evidence to support the use of commodity-currency cross-hedges (Demaskey and Pearce, 1998; Benet, 1990; Eaker and Grant, 1987). However, this paper shows that if currencies can be defined as commodity currencies, as per Chen and Rogoff (2003) and Cashin, spedes and Sahay (2002), commoditycurrency cross-hedges are effective and beneficial. Two commodity currencies, the Papu...

Bitcoin and other similar digital currencies on blockchains are not ideal means for payment, because their prices tend to go up in the long term (thus people are incentivized to hoard those currencies), and to fluctuate widely in the short term (thus people would want to avoid risks of losing values). The reason why those blockchain currencies based on proof of work are unstable may be found in...